CDPQ Participates in Top Aces Equity Financing Round

Posted on 11/29/2019


Dorval, Québec-based Top Aces Inc. (Top Aces), a company involved in airborne training, announced that it will receive a new C$ 100 million equity investment in share capital from Clairvest Group Inc. Clairvest, its lead shareholder, the Caisse de dépôt et placement du Québec (CDPQ) and its other existing investors, participated in the cash infusion. Clairvest Group has been a long-term investor in Top Aces.

In 2005, Top Aces signed a C$ 94 million contract with the Canadian Armed Forces to supply contracted combat support and adversary training.

Formed in 2000 by three former Royal Canadian Air Force CF-18 fighter pilots, Top Aces provides advanced and innovative airborne training to the world’s leading air forces. Top Aces was formerly known Discovery Air Defence Services (DADS) and is not part of its former parent company Discovery Air.

Keywords: Caisse de depot et placement du Quebec.